American Realty Investors reports Q3 2021 net loss of $19.4M ($1.20/share) on revenue decline

AMERICAN REALTY INVESTORS INC

2021-Q3 EPS reported $0.63 revenue$33,425,000

Net loss attributable to common shares of $19.4M ($1.20 diluted EPS) vs $8.0M ($0.50) in Q3 2020, loss widened.
Rental revenues fell to $9.6M from $11.5M YoY, driven by sale of 600 Las Colinas and lower commercial occupancy.
Sold 600 Las Colinas office building for $74.8M, netting $38.8M in cash after loan repayment; gain of $27.3M.
Refinanced Villas at Bon Secour with $20M loan at 3.08% (92 bps reduction), generating $8.9M additional proceeds.
Overall occupancy 93% (97% multifamily, 70% commercial); rent collection at 94% for the quarter.

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